Germany's Values Real Estate has appointed Klaus Siebel as managing director of Values Renewables.
In this newly created role, Siebel will build up the renewable energy business area.
Values Real Estate is initially concentrating on the solar energy sector. This includes the installation of systems on roof areas of one's own real estate portfolio or on the roofs of third parties, as well as the construction of or participation in open-space systems.
Siebel will evaluate the suitable assets or locations and build the portfolio. As part of this portfolio development, he will also set up new institutional investment products and place them on the market.
Siebel joins values from Aquila Capital, where he led the energy & infrastructure fund management team.
He was been responsible for various institutional structures in the areas of wind/solar, real estate and energy efficiency with an investment volume of more than €700 mln over the past seven years.
Nicky Georg Kisitzky, managing partner and CFO at Values Real Estate, said: 'With Klaus Siebel, we have gained a very experienced colleague for Values who has systematically developed the renewables business area in recent years.
'On the one hand, we want to use it to broaden our “manage-to-green approach” to our real estate portfolio and, on the other hand, to offer our existing and new investors attractive investment opportunities.'
Siebel has around 25 years of professional experience in the investment business, including 15 years in the real estate sector. Other key roles included risk manager at Commerzbank plus four year in the commercial real estate financing department at Eurohypo in New York.
Most recently, as principal asset manager of the Commerzbank subsidiary Hanseatic Ship Asset Management, he was involved in the development and successful sale of a shipping platform with equity capital of around €250 mln.
Said Siebel: 'Values has developed enormously in recent years and is based on a solid and crisis-resilient business model. I’m looking forward to being able to use my expertise to support and contribute to this development with the new Renewables business area.'
Values Real Estate has initiated a total of twelve institutional funds with an investment focus on CBD, prime locations, logistics, health and social infrastructure. The company has €5 bn assets under management.
